{"id":534464,"date":"2023-01-03T19:20:09","date_gmt":"2023-01-03T16:20:09","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/tesla-shares-plunge-10-to-start-2023-on-weak-demand-worries\/"},"modified":"2023-01-03T19:20:09","modified_gmt":"2023-01-03T16:20:09","slug":"tesla-shares-plunge-10-to-start-2023-on-weak-demand-worries","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/tesla-shares-plunge-10-to-start-2023-on-weak-demand-worries\/","title":{"rendered":"#Tesla shares plunge 10% to start 2023 on weak demand worries"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4132e3bed39\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4132e3bed39\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/tesla-shares-plunge-10-to-start-2023-on-weak-demand-worries\/#%E2%80%9CTesla_shares_plunge_10_to_start_2023_on_weak_demand_worries%E2%80%9D\" >&#8220;Tesla shares plunge 10% to start 2023 on weak demand worries&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CTesla_shares_plunge_10_to_start_2023_on_weak_demand_worries%E2%80%9D\"><\/span>&#8220;Tesla shares plunge 10% to start 2023 on weak demand worries&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Tesla\u00a0shares kicked off 2023 with a 10% drop on Tuesday, extending a selloff from their worst year on growing worries about weakening demand and logistical problems that have hampered deliveries.<\/p>\n<p>The latest slide came after the world\u2019s most valuable automaker missed estimates for fourth-quarter deliveries despite shipping a record number of vehicles.\u00a0<\/p>\n<p>At least four brokerages cut their price targets and earnings estimates, looking for more downside after the stock suffered its biggest annual loss since going public in 2010.<\/p>\n<p>The result \u201ccame at the at the cost of higher incentives, suggesting lower pricing and margin,\u201d brokerage JP Morgan said in a note, lowering its price target by $25 to $125.<\/p>\n<p>Shares of Elon Musk\u2019s electric-vehicle maker were trading at $109.82, after losing 65% of their market value last year. The firm, which had a peak market capitalization of more than $1 trillion, now has a valuation of about $390 billion.<\/p>\n<p>That still makes it the world\u2019s most valuable automaker, even though its production is a fraction of rivals such as Japan\u2019s Toyota Motor.<\/p>\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/musk-tesla-stock1.jpg?w=1024\" alt=\"Tesla logo\" class=\"wp-image-25218786\" width=\"618\" height=\"411\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/musk-tesla-stock1.jpg?quality=75&amp;strip=all&amp;w=1233 1236w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/musk-tesla-stock1.jpg?quality=75&amp;strip=all&amp;w=925 927w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/musk-tesla-stock1.jpg?quality=75&amp;strip=all&amp;w=618 618w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/musk-tesla-stock1.jpg?quality=75&amp;strip=all&amp;w=308 309w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/musk-tesla-stock1.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\"\/><figcaption>Tesla shares lost 65% of their market value last year.<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>\u201cDemand overall is starting to crack a bit for\u00a0Tesla\u00a0and the company will need to adjust and cut prices more especially in China, which remains the key to the growth story,\u201d Wedbush Securities analyst Dan Ives said.<\/p>\n<p>Global automakers have in the past few months battled a demand downturn in China, the world\u2019s largest auto market, where the spread of COVID-19 has hit economic growth and pressured consumer spending.<\/p>\n<p>Tesla\u00a0has tried to navigate the\u00a0pressure\u00a0by offering hefty discounts in the country, as well as a subsidy for insurance costs.<\/p>\n<p>The automaker also plans to run a reduced production schedule in January at its Shanghai plant, extending the lowered output it began in December into 2023, Reuters\u00a0reported.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2023\/01\/03\/tesla-shares-plunge-10-to-start-2023-on-weak-demand-worries\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Tesla shares plunge 10% to start 2023 on weak demand worries&#8221; Tesla\u00a0shares kicked off 2023 with a 10% drop on Tuesday, extending a selloff from their worst year on growing worries about weakening demand and logistical problems that have hampered deliveries. The latest slide came after the world\u2019s most valuable automaker missed estimates for fourth-quarter&#8230;<\/p>\n","protected":false},"author":1,"featured_media":534465,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/musk-tesla-comp.jpg?quality=75&strip=all&1672743898&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[137929,70462,39394,70359,36402,70360],"class_list":["post-534464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1-3-23","tag-electric-cars","tag-elon-musk","tag-stocks","tag-tesla","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/534464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=534464"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/534464\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/534465"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=534464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=534464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=534464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}